Bitdeer Technologies Group (NASDAQ:BTDR) Shares Gap Down – Time to Sell?

Bitdeer Technologies Group (NASDAQ:BTDR) shares gapped down before the market opened on Monday . The stock had previously closed at $18.52, but opened at $16.90. Bitdeer Technologies Group shares last traded at $17.23, with a volume of 2,677,681 shares traded.

Wall Street Analyst Weigh In

BTDR has been the subject of several recent research reports. Roth Mkm increased their target price on shares of Bitdeer Technologies Group from $15.00 to $29.00 and gave the stock a “buy” rating in a report on Tuesday, December 17th. Alliance Global Partners initiated coverage on shares of Bitdeer Technologies Group in a report on Tuesday, October 8th. They set a “buy” rating and a $14.00 target price for the company. HC Wainwright increased their target price on shares of Bitdeer Technologies Group from $17.00 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Needham & Company LLC increased their target price on shares of Bitdeer Technologies Group from $14.00 to $22.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Finally, Northland Securities increased their target price on shares of Bitdeer Technologies Group from $20.00 to $24.00 and gave the stock an “outperform” rating in a report on Friday, January 10th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $21.50.

Bitdeer Technologies Group Price Performance

The company has a market capitalization of $1.92 billion, a P/E ratio of -33.05 and a beta of 2.04. The company’s 50-day moving average price is $19.34 and its two-hundred day moving average price is $12.05.

Hedge Funds Weigh In On Bitdeer Technologies Group

Large investors have recently modified their holdings of the stock. Stonebridge Financial Group LLC bought a new position in shares of Bitdeer Technologies Group in the fourth quarter valued at about $65,000. Public Employees Retirement System of Ohio bought a new position in shares of Bitdeer Technologies Group in the third quarter valued at about $66,000. Centiva Capital LP bought a new position in shares of Bitdeer Technologies Group in the third quarter valued at about $91,000. Barclays PLC bought a new position in Bitdeer Technologies Group during the third quarter worth about $161,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Bitdeer Technologies Group during the third quarter worth about $169,000. 22.25% of the stock is owned by institutional investors.

About Bitdeer Technologies Group

Bitdeer Technologies Group operates as a technology company for blockchain and computing. It offers hash rate sharing solutions, including Cloud hash rate and Hash rate marketplace; and a one-stop mining machine hosting solutions encompassing deployment, maintenance, and management services for efficient cryptocurrency mining; as well as mines cryptocurrencies for its own account.